Home sales still strong
According to DataQuick Information Systems, real estate sales for all six Southern California counties --- Los Angeles, Orange, Riverside, San Bernardino, San Diego, and Ventura --- were up 7.9%. The regional real estate median price appreciated 16.7% to $366,000. California Association of REALTORS® chief economist Leslie Appleton-Young notes that the biggest gains in real estate appreciation have been seen in lower-end neighborhoods due to high demand for real estate and a rush to beat the next hike in interest rates.
This confirms our feelings that the real estate market is still very busy, with people trying to get in on the entry level in less expensive areas, such as the inland counties of Riverside and San Bernardino.
Source: Realtor Magazine online